China's AliExpress to invest around $75.7 million in Korea

• Published date: 09 March 2023
• Publication title: The Korea Times

AliExpress Korea plans to invest about 100 billion won ($75.7 million) in Korea this year, the top executive said Thursday, as the online retailer backed by China's Alibaba Group is pushing to strengthen its presence in the growing cross-border shopping market.

The investment is meant "to offer more attractive products and a better cross-border shopping experience for Korean consumers," Ray Zhang, head of AliExpress Korea, said in a news conference in southern Seoul.

The move came as the Chinese...